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The Signal app creator is just one influential expert slamming crypto tech — and investors have taken notice – Yahoo News

Crypto technology has come under harsh criticism from the founder of messaging app Signal and others.
Swiss bank UBS mentioned the fault-finding in a note to clients, a sign that investors are taking notice.
The tech experts said crypto is actually very centralized, and its users focus more on money than on infrastructure.
The technology behind cryptocurrencies has come under savage criticism from several high-profile tech bloggers in recent weeks — and investors are sitting up and taking notice.
Swiss bank UBS highlighted a blog post by Moxie Marlinspike, the creator of encrypted-messaging app Signal, in a note to clients last week. It also flagged recent critical comments from other well-known tech experts, as it considered the case for a sharp fall in crypto prices.
Marlinspike argued that the crypto world is in fact far from decentralized and secure, despite what its supporters say. Instead, hugely powerful entities — such as NFT marketplace OpenSea — dominate access to the crypto-sphere, he said.
Marlinspike took aim at the idea of decentralized crypto technology itself, saying people don't want to run their own servers, and that it's too difficult to upgrade.
He said many supposed crypto fans don't really care about decentralization, they're simply chasing after money in what he called a "gold rush".
Decentralized systems share out the activity needed to complete a process, rather than relying on a single central resource to do the work. In cryptocurrencies, the distributed work is tracked on a blockchain.
The lightning network that underpins El Salvador and Twitter's bitcoin payments is predominantly run by people who manage individual channels and nodes, for instance.
The Signal founder's intervention was widely shared in technology and financial circles. But it was just one of a number of recent posts by technology commentators who have taken crypto to task.
"The easy money to be made speculating on crypto assets seems to have distracted developers and investors from the hard work of building useful real-world services," Tim O'Reilly wrote in December. Tech expert O'Reilly popularized the term "Web2" for the modern internet.
Web developer Laurie Voss concluded: "There is… something here. But maybe not as much as people are hoping."
Read more: 2022 bitcoin price outlook: Here are the price targets set by top analysts from Goldman Sachs, JPMorgan, and other leading Wall Street banks so far this year
These and other "slowly dawning revelations" are building doubts about crypto among investors, according to James Malcolm, head of foreign-exchange strategy at UBS.
He mentioned regulation as another potential cloud on the horizon.
"People have not heard this side of the story," Malcolm told Insider. "What's important is that investors understand that there is another side of this story than the one that they have been bombarded with on a daily basis."
Crypto prices have fallen sharply over the last two months as investors prepare for the Federal Reserve to turn off the stimulus taps in 2022. Bitcoin was down roughly 2% to $41,585 on Tuesday, well below November's record high of more than $68,000.
The criticisms of the technology could feasibly weigh on bitcoin and crypto further, Malcolm said in a note to clients. They may even become one of several factors that force the sector into a "winter" where prices fail to recover.
However, crypto proponents have defended their project against Marlinspike and other critics.
Ethereum founder Vitalik Buterin said on Reddit that the crypto world isn't as decentralized as it should be, but that critics are "missing where the blockchain ecosystem is going."
Buterin said the industry is still young and predicted that systems will become easier for non-experts to use.
Read the original article on Business Insider
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Brian Brooks, former Acting Comptroller of the Currency and current CEO of bitcoin mining firm Bitfury, discusses his views on the potential problems with an increased focus on U.S. stablecoin and crypto regulation from lawmakers. "Why can't we let the existing regulatory regime work?" Brooks said. "Why do we always feel the need for more constraint versus more innovation?" Plus, his take on Trump-era crypto policy and the energy impact of blockchains.
“Tplus se basa en el legado de contenidos prémium de Telemundo y en su éxito de una década proporcionando títulos latinos originales a plataformas directas al consumidor”.
"Buying digital goods should be as simple as buying a T-shirt or coffee pods," Mastercard said. "You can make your purchase with one click—that's it."
The bug could expose users Google User ID from websites like YouTube, Google Calendar, or Google Keep.
As of 3:30 p.m. ET, top cryptocurrencies Chainlink (CRYPTO: LINK), Polygon (CRYPTO: MATIC) and Monero (CRYPTO: XMR) found themselves in the crypto doghouse. Today, investors are pricing in amplified risk among high-growth stocks and digital tokens, amid a rising interest rate environment. Chainlink, Polygon, and Monero are projects that have grown rapidly over the past year.
Harry Yeh, founder and managing partner at Quantum Fintech Group, says we could be entering a supercycle for cryptocurrencies and he says Bitcoin could hit $400,000 in the next 12 months. He's on "Bloomberg Markets."
After rising in value by over 600% in the last five years, share prices of financial technology stock PayPal Holdings (NASDAQ: PYPL) have slid almost 42.5% recently. Thanks to slowing growth stemming from its long-standing partnership ending with eBay, PayPal now trades with a price-to-earnings of 43, the lowest since nearly two years ago. Driven by its mission "to democratize financial services for people all over the world," PayPal has grown to over 400 million active accounts, making it not only a financial behemoth but one of the largest companies in the world.
Those with more than 100,000 followers need to include warnings about crypto risks.
PlayStation 5 and Xbox Series X consoles are still notoriously difficult to acquire. This is partially because of the chip shortage that affects the availability of the components inside the machines, but also because of scalpers who can buy consoles and sell them for a much higher price. One guy named Jack Bayliss is really sticking up for the little guys in that equation: the scalpers.
The massive potential of the metaverse has pushed this trio higher by roughly 3,500% to 14,000% since the beginning of 2021.
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Over 60% of 100,000 virtual land plots have sold on Pavia, with the remaining set to go under the hammer later this quarter.
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Cardano’s native token, ADA, is bucking the trend this morning surging while those around it continue to decline as crypto markets see red.
Top cryptocurrencies are seeing sell-offs in Monday's trading, and Shiba Inu (CRYPTO: SHIB) is participating in the pullback. The popular meme token was down roughly 4.5% over the previous 24-hour period as of 2 p.m. ET. Among the top-15 largest cryptocurrencies, only Cardano was up over the last day of trading, while Bitcoin and Ethereum were down roughly 2% and 4%, respectively.

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